Is it time to scratch Caterpillar off your buy list?
It's been a tough day for Caterpillar, the world's largest maker of mining and construction equipment. Shares of the company are down 2% after it missed earnings estimates.
CEO Douglas Oberhelman was on Squawk Box this morning to explain the headwinds that caused weak results. Oberhelman said:
"We've got several things going on and, certainly, a mining weakness is one of them. Everything I'm going to talk about here has happened to us for about the last 12 months. Mining has come down. All of our mining customers are spending less on capital."
At CNBC's Delivering Alpha conference, hedge fund titan Jim Chanos revealed he was short Caterpillar. So, is the cat out of the bag on this Dow component?
On CNBC's Closing Bell's Talking Numbers segment, Jonathan Krinsky, Chief Technical Market Analyst at Miller Tabak and Zachary Karabell, president of River Twice Research discuss the charts and fundamentals on Caterpillar.
Watch the video above to hear Krinsky and Karabell analyze Caterpillar.
- Australia International News